MetroPCS Holders Urged to Vote Against Merger

By

Joann S. Lublin and

Sharon Terlep

Updated March 27, 2013 10:08 p.m. ET

A prominent proxy adviser said MetroPCS Communications Inc. shareholders should vote against a merger with Deutsche Telekom AG unit T-Mobile USA, saying they would receive an unfair split of the combined company and would do fine owning shares of a stand-alone carrier.

The recommendation by Institutional Shareholder Services, which advises big shareholders how to vote in corporate elections, gives a boost to funds including Paulson...